Thousands
of people in Connecticut have used Chapter
13 Bankruptcy
to save their homes from foreclosure. We can help
you save your home. We may even be able to help you
get rid of second or third mortgages, reduce car loan
payments, and cancel some or all of your credit card and
other debt.
Call us for a free
consultation.
We
will take the time to explain what you can do
to save your home.
We
will answer all your questions.
We
understand it may be difficult for you to take
time off from work, so we can make an evening
or Saturday appointment for you.
You can use Chapter 13 to save your home from foreclosure, as long the
foreclosure has not reached the point where title to your
home has passed over to the bank (the Law Days
have passed) or there has been a foreclosure sale and the
Connecticut Superior Court has confirmed the sale.
Under Chapter 13, you put together a repayment Plan
to get caught up on the overdue mortgage, which will
include late charges, the bank's attorneys fees and court
costs, and any foreclosure committee's fees. While
you are making the Plan payments, you are required to keep
your monthly mortgage payments current. The
repayment period can last from 3 to 5 years.
As
part of your Plan, you may avoid having to pay all or part of your unsecured
debt (credit cards, utilities, doctor and hospital
bills, income taxes). Whether and how much unsecured
debt you will have to pay depends on a number of things,
including your income, your expenses, how much you will be
paying to get caught up on your mortgage, and whether you
have filed Chapter 13 before.
If you have just been served with foreclosure papers, keep
these important points in mind:
Do
not panic, you are not about to immediately lose your
home.
A
foreclosure takes a while, usually 3 to 6 months,
depending on how fast the bank moves the case
along and what you may be able to do to slow
things down.
You
may qualify to have the foreclosure court give you
6 months time to get caught up on your
mortgage.
Talk
to an experienced bankruptcy attorney right away.
A
successful Chapter 13 case takes time to prepare.
Attorneys
will charge more, or may not even take your case,
if you wait until the last minute to file
bankruptcy.
You
can not even file a Chapter 13 case until you have
undergone mandatory credit counseling.
The
longer you let the foreclosure case go on, the
more you will owe the bank.
The
bank's
attorney's fees are added to the amount of
your mortgage.
If
a foreclosure sale committee has been
appointed, the committee's fees are added to
the amount of your mortgage.
Late
charges and interest continue to pile up
during the foreclosure. Once you file
Chapter 13, you may be able to reduce the
amount of interest you are paying.
Once
you file Chapter 13, several deadlines begin to
run. The more time you have to prepare for
these deadlines, the more likely your Chapter 13
case will be successful and allow you to save your
home.
When You Need a Bankruptcy
Lawyer,
Rely on Us for Skill,
Determination and Experience.
Congress has designated Serrano &
Serrano, LLC a debt relief agency.
We help people file for relief under
the Bankruptcy Code.
